Hip, hip, hooray: Isabel Toledo has announced she'll be doing a shoe line with Payless. The first styles will hit stores this September. Nothing will be over $40. [WWD]

The Cut juxtaposed fashion photographer Tom Munro's claim that he uses Photoshop "as subtly as possible without being too extreme" with a recent Allure cover Munro shot of Sarah Jessica Parker, who was so heavily Photoshopped she came to resemble Kathy Griffin, a little. [The Cut]

Jourdan Dunn, 19, made her first catwalk appearance since the arrest of her boyfriend on charges of possessing cocaine with intent to supply at a Fashion For Relief benefit show at a London shopping center. It is only her second runway show since giving birth in December. [Fashionologie]

J. Crew creative director Jenna Lyons likes this quote: "Ask a woman what her favorite thing in her closet is, and she'll pick the thing she bought yesterday; ask a man, and he'll pick the thing he bought 40 years ago." [Style.com]

French fashion consultant Jean-Jacques Picart, the man who persuaded Bernard Arnault to back a designer from Arles named Christian Lacroix back in the 80s, puts the ultimate loss of Lacroix's business down to a failure of management. It's no secret that the Lacroix company never managed to translate its appeal into a perfume or eyewear line that would have shored up its cashflow, but it was news (to us, at least) that the total company losses were €150 million over its 22 years in business. [Newsweek]

Altogether more successful at the fragrance game is Elizabeth Taylor, who is launching her umpteenth. [ET]

Ermenegildo Zegna plans to make some suits that will cost $22,500. Every year, the company anoints one merino fleece superior to all others, and awards the sheep farmer responsible for it in his fleece's weight in gold. (Which is kind of back-handed, if you think about it, since the lighter the fleece, the higher the quality, but whatever.) This year, the Italian men's brand wove a fabric out of all the best fleeces from 2002 onwards, and it is this uberfine merino that 330 pairs of hands will magically transform into your suit, for just the cost of a small car. [T]

News flash: Sometimes mass-market stores like Topshop take inspiration in a general way from the designer collections. [Fashionista]

Louis Vuitton Moët Hennessy wants to stop Google from selling its trademarks as search terms to counterfeiters — or any unauthorized company. Searches for things like "Louis Vuitton" often turn up sponsored links to sites that sell fakes. [IHT]

Speaking of counterfeiting: U.S. officials say they have broken up a counterfeiting ring responsible for importing more than $33 million worth of fake designer goods through the port of Baltimore. It's just like on The Wire! Fake Gucci, Coach, Nike, and Cartier items were among those seized. The Americans co-ordinated with officials in London, who struck against the same network of counterfeiters there, taking 50,000 counterfeit items in 30 separate raids in the city. [WWD]

"I don't read much because I have a very short attention span, which isn't saying much for a journalism graduate. I read Twilight when I was in the Caribbean, which says even less for a journalism graduate." Henry Holland might just be the best-paid journalism grad of his generation. [Independent]

Meanwhile, Holland and the model known as Agyness Deyn have put up for sale the Camden apartment they once shared as room-mates, since Deyn is now based in New York. [Sun]

Keds launched an advertising campaign in which the company said the word "sneakers" was coined by an ad man in 1917. But in fact the word had been in use since the late 19th Century. [NYTimes]

The Senate judiciary panel has voted to overturn a recent Supreme Court ruling that itself reversed a law that had been in effect since 1911. While the court held that manufacturers could try to control how deeply a given retailer discounted its goods, the Senate panel wants to return to the old way of doing things, when "Manufacturer's Suggested Retail Price" was, well, a suggestion, not an instruction. It's unknown when the full Senate or the House might consider the bill. [Fashionista]

Syms, which acquired the awesome discount chain Filene's Basement last year after the latter went into bankruptcy, has announced it will continue the process of transforming its 23 Filene's stores into Syms and Filene's Basement stores. The company says this makes sense because Syms is known for its men's wear and Filene's its women's wear. [Crain's]

Despite a rise in its net income, Tiffany's margins were down this quarter, and the profit was smaller than analysts had expected. The stock fell 4%. [Reuters]

Allow us to leave you with this rumination on Yves Saint Laurent's life, work, and legacy. Discussed: whether fashion is art, cocaine, couture, Oran, the Statue of Liberty, nudity, perfumes, and Pierre Cardin. [ToL]